Absa may have to pay R2.25 billion for unlawful apartheid era bank bailout

Mail & Guardian reports that Public Protector Advocate Busisiwe Mkhwebane has found that Absa has to pay R2.25 billion to the fiscus for an unlawful apartheid-era bank bailout.

M&G senior reporter, Pauli Van Wyk, says Reserve Bank, Treasury and the Presidency are also implicated in Mkhwebane's preliminary report.

Absa, Reserve Bank, Treasury and Presidency must now tell the Public Protector why she must not make her findings permanent.

Pauli Van Wyk, Mail & Guardian senior reporter

They have already received preliminary report and have to answer it by end of February.

Pauli Van Wyk, Mail & Guardian senior reporter

Listen to the full interview below for more details...


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